Abu Dhabi National Oil Company (ADNOC) signed deals with bp, Mitsui & Co., Shell, and TotalEnergies, awarding each a 10% stake in the Gulf country’s Ruwais liquefied natural gas (LNG) project while retaining a 60% majority, the company announced on Wednesday.
Separately, ADNOC signed several new long-term LNG sales commitments with international partners, including for the delivery of 1 million tonnes per year with Shell and 0.6mtpa with Mitusi & Co., taking the committed Ruwais LNG production capacity to 70%, the major energy company ADNOC said in a statement.
ADNOC’s Managing Director and Group CEO Sultan Ahmed Al Jaber welcomed the agreement with four international companies and said the project 'will be one of the world’s lowest carbon-intensive LNG facilities.”
The Ruwais project, currently under development in Al Ruwais Industrial City, is located some 240 kilometers west of Abu Dhabi, United Arab Emirates, and will be the first LNG export facility in the Middle East and North Africa region to run on clean power.
The project boasting a total capacity of 9.6 million metric tons a year, will more than double ADNOC’s UAE LNG production capacity to around 15 million metric tons per year, enhancing the company's international LNG portfolio.
The participation of bp, Mitsui & Co., Shell and TotalEnergies in the project is subject to customary regulatory clearances, the statement added.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr